351 Single-Family-Homes are Actively Listed in Santa Barbara, Montecito, and Hope Ranch*

  • Lowest list price:   $605,000    
  • Highest list price:  $85,000,000
  • Average list price: $4,911,704
  • Median list price:   $2,895,000

Of the active homes, 103 are already under contract. This leaves only 248 active homes on the market. Let's break down the available inventory by price range:

  • Homes listed under $1,000,000: 21
  • Homes listed $1,000,001 - $2,000,000: 99
  • Homes listed $2,000,001 - $5,000,000: 130
  • Homes listed over $5,000,000: 92

So, are we in a buyer's market or a seller's market? 

That depends on your price point! Less than 6 months of inventory is a SELLER'S market, 6 or more months of inventory make a BUYER'S market. 

  • Homes listed under $1,000,000: 1.6 months SELLER'S MARKET (absorption rate: 13 sales/mo, 6 mo. avg). 
  • Homes listed $1,000,001 - $2,000,000: 4.7 months SELLER'S MARKET (absorption rate: 21 sales/mo, 6 mo. avg). 
  • Homes listed $2,000,001 - $5,000,000: 9.2 months BUYER'S MARKET (absorption rate: 14 sales/mo, 6 mo. avg). 
  • Homes listed over $5,000,000: 30 months BUYER'S MARKET (absorption rate: 3 sales/mo, 6 mo. avg). 

Based on the last six months, on average, how long will it take to sell your home in today's market? To find out what your home is worth click HERE

  • Sales prices under $1,000,000: 49 days
  • Sales prices $1,000,000 - $2,000,000: 82 days
  • Sales prices $2,000,001 - $5,000,000: 125 days
  • Sales prices over $5,000,000: 207 days

 16 Homes Closed Escrow 

The average sold price was $2,580,250 ranging from $1,005,000 to $18,500,000.

24 New Listings Hit the Market

This includes two new Montecito Opportunites by Maureen McDermut! 


 

Below is a list of homes that became active in the last 7 days. 

$975,000
3 beds - 2 Baths

1640 Calle Canon

Santa Barbara, California

Listing office: Westridge Properties

MLS® ID: 17-3976

$1,099,999
3 beds - 2 Baths

161 Sawtelle Ave

Oxnard, California

Listing office: Real Estate Services Unlimited Inc.

MLS® ID: 17-3974

$1,450,000
3 beds - 3 Baths

329 Lincoln Dr

Ventura, California

Listing office: Century 21 Troop Real Estate

MLS® ID: 17-2966

$2,495,000
2 beds - 2 Baths

401 Chapala St #402

Santa Barbara, California

Listing office: Berkshire Hathaway Home Services California Properties

MLS® ID: 17-3972